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Schwabinger to invest in TikTok Europe
The German group "Axel Springer" is planning to acquire a stake in the operations of the European "TikTok" platform, aiming to replicate the ownership restructuring model of the app owned by Chinese company "ByteDance." The plan involves separating the European activities from the parent company, allowing for participation in a joint deal to enhance security and data protection, similar to the model implemented in the United States. This initiative is part of the group's efforts to strengthen its presence in the global media sector, following previous acquisitions of "Business Insider," "Politico," and the "Daily Telegraph" newspaper for £575 million.
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